In a way though, isn't it good for the big coins? You've got a bunch of two-bit coins with nothing big to offer, and they're dumped for profit, hopefully reinforcing the value of the big coins that survive? I mean, have legitimately good and innovative coins been killed by multipool mining?

Then again, now I see a point in scam coins. Have a massive hashing power set up, launch the coin, mine a huge amount of it, pump until it has even a tiny amount of value, then dump the hell out of it. Is that how it works with a lot of these scam coins? I guess it'd make sense. But that certainly hurts cryptos in general. Hard to know what coins to trust, and which are garbage.